The Industrial Index put on +0,42 percent to 145.05 points being +0,21 percent firmer week on week.
Gains were lifted by Inncsor Corporation Limited which put on +2,96 percent to 56,53c, Hippo Valley Estates Limited (3,45 percent), and Dairibord Holdings Zimbabwe Limited (+2,63 percent).
Property group ZimRe Property Investments Limited led the risers with a +16,50 percent charge to 1,20c, banking group, FBC Financial Holdings Limited recovered +12,07 percent to 6,50c in week ending trades while Rainbow Tourism Group was +5 percent firmer at 2,1c.
Heavy cap counters were, however, in mixed trades after Old Mutual Limited lost -3,20 percent to 121c, Meikles Africa Limited eased -4,76 percent to 20c while Pretoria Portland Cement slipped -4,55 percent in the wake of its September finals reporting a -22 percent decline in Earnings Per Share due to a combination depressed of sales (3 percent down) and declining EBITDA margins (31,4 percent from 36,5 percent) caused by under recovery of input cost inflation.
PPC Zimbabwe sales volumes, however, improved by more than 50 percent due to a combined increased demand and operational problems suffered by competitors.
SeedCo Limited lost -4,35 percent (-5c) to 110c albeit on thin trades, with a lower bid at 105c after reporting their interims.
Despite impressive 49 percent growth in first half revenues, the group reported just 2 percent improvement in their first half loss after margins shrank by 2 percent to 40 percent.
Total turnover for the day improved to $841 520 from yesterday’s $600 929 boosted by foreign buying in Delta Corporation Limited.
Delta accounted for the bulk of trades after foreign investors bought 455 000 shares of the beverages group realising the potential after a solid set of interims.
Total volumes traded improved 40 percent to 14,3 million.
The ZSE's Mining Index closed the day unchanged at 121.40 points but is -1,91 percent lower week on week.
Hwange Colliery Company Limited and Rio Zimbabwe Limited traded mainly unchanged while Bindura Nickel Corporation Limited was bid lower at 4,5c.
Recapitalisation efforts at Rio are beginning to take shape after the group notified shareholder of an Extraordinary General Meeting (EGM) scheduled for December 5 to approve a Rights Issue and debt to equity swap.
The mining giant intends to issue 66,7 million new shares at 45c under a 22,24 new shares for every 10 shares rights issue and a conversion of $29 million debt into 43,.9 million shares at a conversion price of 66c.Post published in: Business